Alcoa (NYSE:AA) PT Raised to $50.00 at UBS Group

Alcoa (NYSE:AA) had its target price increased by UBS Group from $40.00 to $50.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

AA has been the topic of a number of other research reports. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Wednesday, September 4th. B. Riley boosted their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. started coverage on Alcoa in a research note on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.45.

Alcoa Stock Performance

Shares of AA opened at $41.72 on Tuesday. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of -11.10 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The company’s 50 day simple moving average is $34.96 and its 200 day simple moving average is $36.79.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.14) EPS. On average, sell-side analysts predict that Alcoa will post 0.29 EPS for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. Alcoa’s dividend payout ratio is currently -10.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Alcoa by 12.0% during the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock valued at $128,000 after buying an additional 344 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after buying an additional 368 shares in the last quarter. Diversified Trust Co increased its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after buying an additional 416 shares during the last quarter. Finally, CWM LLC raised its holdings in Alcoa by 19.5% in the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 596 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.